Vantage Drilling 8-K Vantage Drilling Announces Proposed Offering of

Exhibit 99.2

Recent Developments

During a preload test on October 29, 2009, theSapphire Driller experienced a penetration of the sea floor by one of its legs, which is referred to as a “punchthrough.” Damage to theSapphire Driller was minimal and no crew members were injured. Repairs on the rig have been completed and the rig is expected to resume drilling operations for Foxtrot International by year end. Prior to resuming drilling operations, we expect theSapphire Driller to earn a portion of the contracted dayrate commencing on or around December 10, 2009. In addition, we have an insurance deductible of $5.0 million and we expect the costs of the repair to exceed this amount.